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Many small business owners don’t really understand benefits of joint ventures and may be skeptical at first. You need endurance to educate them about many benefits a joint venture brings, and to put their minds at ease concerning any issues they may have. You will also need resilience and patience after launching your campaign, as results may not be immediately forthcoming.
4.The ability to visualize synergy
Even if you choose partner with largest client list in marketplace, if there’s no real synergy, partnership will not jell. It is critical to make sure that combination of products and/or services fit together, and are not proverbial “round peg in a square hole.”
5.Effective negotiation skills From minute door is opened to possibility of a joint venture, serious negotiations begin. Negotiating skills are necessary in making sure that both parties reach a win-win agreement, and also so that you achieve goals you have set in planning stages of your project. The ability to present all benefits of joint venture to your prospective partner in early phase of negotiations is critical to their acceptance of your proposal.
Joint venture marketing is rising in popularity everyday, and is an excellent way for small businesses to springboard their efforts to new success levels. These skills are all acquirable skills, and many resources are available to small business owner wanting to reach out in these directions.
Copyright © 2005 by Habiba Abubakar and Emprez. All rights reserved.
Note: You are welcome to republish this article as long as resource box at end is included fully and unaltered.
Joint venture specialist Habiba Abubakar, a.k.a. The Profit Diva, specializes in helping small business owners who are struggling to increase their client base and are tired of earning mediocre profits. To sign up for your FREE copy of her revealing Mini eCourse, “The Easiest Way To Skyrocket Your Profits In 90 Days Or Less,” and to receive other FREE marketing resources, visit http://www.profitdiva.com